exclusion – Investment Watch

IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through summer

May 15, 2021

by JC1812 WASHINGTON — The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan

A more detailed explanation of the $10,200 unemployment exclusion

March 17, 2021

by LiteBulb88 There have been a lot of requests asking for an ELI5 version of the $10,200 unemployment compensation exclusion post. So this is my attempt at that; in particular, I

The IRS has released guidance on how to handle the 2020 unemployment exclusion

March 15, 2021

by LiteBulb88 Since it’s been asked about quite a bit here, the IRS has released guidance on how to handle the $10,200 unemployment exclusion: www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation The basic idea is that